Cardiac Surgical Devices Market Overview:

Global Cardiac Surgical Devices Market accounted for $1,700 million in 2016, and is estimated to reach $2,124 million by 2023, growing at a CAGR of 3.2% during the analysis period (2017-2023). There is a high prevalence of cardiac diseases worldwide, hence an increase in the number of cardiac surgeries. Products such as beating heart surgery systems, cardiopulmonary bypass equipment, cardiac ablation devices, and perfusion disposable are used for cardiac surgery.

The key factors that drive the growth of cardiac surgical devices market include rise in incidence & prevalence of cardiovascular diseases. In addition, the rise in healthcare expenditure and healthcare insurance are expected to fuel the market growth during the analysis period. However, shortage of experienced healthcare professionals and lack of awareness among the population restrict the growth.

Based on product type, the global cardiac surgical devices market is categorized into beating heart surgery systems, cardiopulmonary bypass equipment, cardiac ablation devices, and perfusion disposable. Perfusion disposables held the highest market share and is expected to grow with the highest growth rate during the forecast period. The growth of the perfusion disposable market is fueled by the growth in use of perfusion disposables during cardiac surgical procedure for transferring the blood to different parts of the body. On the basis of application cardiac arrhythmia held the highest market share owing to the high prevalence of cardiac arrhythmia.

Geographically, the global cardiac surgical devices market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America held the largest share of the market in 2016, followed by Europe. On the other hand, Asia is anticipated to be the fastest-growing regional segment during the analysis period. The key factors that drive the growth of this market include increase in pool of patient population, rise in prevalence of cardiovascular diseases, and rise in government investments for development of better healthcare facilities and R&D. Asia-Pacific is expected to emerge as the area with maximum growth potential due to the focus of key players in the emerging economies and improving healthcare infrastructure.

Majority of the deaths, worldwide, are due to cardiac diseases; accounting for 17.3 million deaths per year, and projected to grow more than 23.6 million by 2030. American Heart Association (AHA) estimated that approximately 31% of total deaths globally in 2013, were because of cardiac diseases. Around 80% of those cardiac deaths were from low and middle income countries. These factors majorly drive the growth of the cardiac surgery devices market.

In addition, rise in incidences of diabetes, atherosclerosis, strokes, hypertension, and other chronic disorders that arise due to change in lifestyle habits (such as unhealthy dietary habits, lack of physical activity, and smoking) are also expected to boost the growth of the market, as the aforementioned factors lead to disorders of the circulatory system.

Large Pool of Geriatric Population

The global geriatric population has increased significantly and is vulnerable to various cardiac disorders, such as stroke, cardiac arrest, cardiomyopathy, and arrhythmias. For instance, according to the estimates of American Heart Association (2015), approximately 43.7 million suffered from cardiovascular disorders and above the age of 60 years in the U.S. alone. In addition, 69.1% of men and 97.9% of women, aged between 60 and 79 years, had cardiac disorders in 2015, in the U.S. Similarly, about two-thirds of deaths are from cardiac diseases in the people aged 75 and above. Emerging countries have high number of elderly population throughout the world. For instance, according to the estimates of Central Intelligence Agency (CIA) in 2016, approximately 27.3% of population were above 65 years. Therefore, the escalation in rate of the geriatric population is expected to raise the demand for surgical procedures, thereby driving the cardiac surgery devices market.

Other players (the profiles of these players are not covered in the report) in the value chain include C. R. Bard, Inc., Trinity Biotech, Abiomed, Inc., Cardinal Health, CyberHeart Incorporated, MedWaves Incorporated, and Transmedics, Inc.

Key Market Benefits:

The study provides an in-depth analysis of the cardiac surgical devices market with current trends and future estimations to elucidate the imminent investment pockets

The report provides a quantitative analysis from 2016 to 2023 to enable the stakeholders capitalize on prevailing market opportunities

Extensive analysis by product and application helps understand various trends and prevailing opportunities in the respective market

Comprehensive analysis of all geographical regions is provided, which determines the main opportunities in these geographies

Key market players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the market

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Common cardiovascular conditions include rheumatic heart disease, hypertensive heart failure, ischemic heart disease, cardiovascular disease, inflammatory heart disease, and others. Cardiac surgery is the procedure used for the treatment for cardiac disorders. Different cardiac surgical devices are used for this procedure such as beating heart surgery systems, cardiopulmonary bypass equipment, cardiac ablation devices, and perfusion disposables. Perfusion disposable held the largest market value in 2016 and is expected to lead the market during the analysis period owing to high use of perfusion disposable as perfusion products are used to temporarily replace the functions of the heart and lungs during cardiac surgery procedures.

North America held the highest share owing to unhealthy lifestyles of the people, improper diet, and growth in elderly population, which results in the risk of heart disorders. In accordance to the estimates of the American Heart Association, nearly 98 million adults suffer from one or more types of cardiovascular disorders. Newer cardiovascular procedure is expected to play a significant role in enhancing the quality of life for patient groups with poor cardiac function. Asia-Pacific has the highest market potential due to rise in incidence of cancer, growth in per capita income in many countries such as India and China, government initiatives for the improvement of healthcare sector, and rise in focus of leading manufacturers on expanding their geographic presence in emerging Asia-Pacific countries to capture high growth opportunities in the market. Major companies involved in the cardiac surgical devices market are LivaNova PLC, Medtronic Inc., MAQUET GmbH & Co. KG, and Terumo Cardiovascular Systems Corporation.